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Permclip Products Corporation 401k Plan
Permclip Products Corporation, Buffalo NY. Employer ID 160992179, plan number 001. Annual reports on file for 2009 to 2019.
Where the money went
Plans that moved money into this one:
- 2012: money from All Makes Office Equipment Company of Omaha & Affiliated Companies Profit Sharing Plan moved in.
- Filed 2009-2019Permclip Products Corporation 401k Plan, Permclip Products Corporation
- Stopped filingPermclip Products Corporation 401k Plan stopped filing with no final report. It may be abandoned; see the places to ask below.
Records are kept by Principal Life Insurance Company, per the 2019 filing.
Left in 2017, 2018, 2019? Worth asking about employer money
- In plan year 2017, active participants fell from 215 to 169 (21%), and 19 people left before they were fully vested. When a plan loses about 20% or more of its participants in a year, the IRS presumes a partial plan termination (Revenue Ruling 2007-43). Everyone who left in that period must then be fully vested in the employer's contributions. Filing
- In plan year 2018, active participants fell from 169 to 81 (52%), and 25 people left before they were fully vested. When a plan loses about 20% or more of its participants in a year, the IRS presumes a partial plan termination (Revenue Ruling 2007-43). Everyone who left in that period must then be fully vested in the employer's contributions. Filing
- In plan year 2019, active participants fell from 81 to 22 (73%), and 6 people left before they were fully vested. When a plan loses about 20% or more of its participants in a year, the IRS presumes a partial plan termination (Revenue Ruling 2007-43). Everyone who left in that period must then be fully vested in the employer's contributions. Filing
This is a reason to ask the plan, not a finding. The plan decides, and it may show the drop was routine.
Worked here?
Check your years. We show whether the plan merged or moved money while you were there, and draft the letter to the plan that holds it now.
Events in the filings
- 2019: The plan stopped filing reports without saying it ended or where the money went. It may have been abandoned.
People in the plan
"Left, still in the plan" counts people who left the employer but still have a benefit in the plan, as reported by the plan.
| Plan year | Participants | Left, still in the plan | Source |
|---|---|---|---|
| 2009 | 24 | — | Filing |
| 2010 | 23 | — | Filing |
| 2011 | 19 | — | Filing |
| 2012 | 22 | — | Filing |
| 2013 | 130 | — | Filing |
| 2014 | 242 | 5 | Filing |
| 2015 | 228 | 20 | Filing |
| 2016 | 246 | 31 | Filing |
| 2017 | 218 | 49 | Filing |
| 2018 | 121 | 40 | Filing |
| 2019 | 85 | 63 | Filing |
Source: U.S. Department of Labor Form 5500 filings. Plan-level facts only; no one's balance. Information only, not legal advice.